Swiss Franc Gains as Investors Sell Euro

By

Neil MacLucas

May 25, 2010 5:25 am ET

The Swiss franc climbed against the euro in early trading Tuesday, buoyed by continued concern among investors that the euro-zone debt crisis could crimp economic growth in the region and after the Spanish central bank had to take over ailing savings bank CajaSur Monday.

Around 0900 GMT, the euro was trading at 1.4215 after trading in Asia just below 1.43. “Risk aversion seems to be back on the table, and this is helping the franc rebound versus the euro,” said Marcus Hettinger, head of currency research at Credit Suisse Group.

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